1.1 Discuss when and at what amount the bicycle frames should be initially recorded in the financial statements of Tsangoni CC. You should apply the relevant definition and recognition criteria as per the Conceptual Framework in your discussion. 1.2 Prepare all the general journal entries relating to the purchase of bicycle frames for the year ended 31 August 2021. Calculate the opening balance of the accumulated depreciation: PPE: servicing machine account (balance at 1 September 2020) and the total depreciation expense. 1.4 Assume that at the end of the year, Ingiphile found that the delivery vehicle had a value in use of R84 000 and could be sold for R87 000 if R8 000 was incurred to prepare it for sale. At what amount would PPE: delivery vehicle be shown on the statement of financial position as at 31 August 2021? (10 mark (10 mark (8 marks (2 marks 1.1 Discuss when and at what amount the bicycle frames should be initially recorded in the financial statements of Tsangoni CC. You should apply the relevant definition and recognition criteria as per the Conceptual Framework in your discussion. 1.2 Prepare all the general journal entries relating to the purchase of bicycle frames for the year ended 31 August 2021. Calculate the opening balance of the accumulated depreciation: PPE: servicing machine account (balance at 1 September 2020) and the total depreciation expense. 1.4 Assume that at the end of the year, Ingiphile found that the delivery vehicle had a value in use of R84 000 and could be sold for R87 000 if R8 000 was incurred to prepare it for sale. At what amount would PPE: delivery vehicle be shown on the statement of financial position as at 31 August 2021? (10 mark (10 mark (8 marks (2 marks 1.1 Discuss when and at what amount the bicycle frames should be initially recorded in the financial statements of Tsangoni CC. You should apply the relevant definition and recognition criteria as per the Conceptual Framework in your discussion. 1.2 Prepare all the general journal entries relating to the purchase of bicycle frames for the year ended 31 August 2021. Calculate the opening balance of the accumulated depreciation: PPE: servicing machine account (balance at 1 September 2020) and the total depreciation expense. 1.4 Assume that at the end of the year, Ingiphile found that the delivery vehicle had a value in use of R84 000 and could be sold for R87 000 if R8 000 was incurred to prepare it for sale. At what amount would PPE: delivery vehicle be shown on the statement of financial position as at 31 August 2021? (10 mark (10 mark (8 marks (2 marks 1.1 Discuss when and at what amount the bicycle frames should be initially recorded in the financial statements of Tsangoni CC. You should apply the relevant definition and recognition criteria as per the Conceptual Framework in your discussion. 1.2 Prepare all the general journal entries relating to the purchase of bicycle frames for the year ended 31 August 2021. Calculate the opening balance of the accumulated depreciation: PPE: servicing machine account (balance at 1 September 2020) and the total depreciation expense. 1.4 Assume that at the end of the year, Ingiphile found that the delivery vehicle had a value in use of R84 000 and could be sold for R87 000 if R8 000 was incurred to prepare it for sale. At what amount would PPE: delivery vehicle be shown on the statement of financial position as at 31 August 2021? (10 mark (10 mark (8 marks (2 marks